Wellington Management Group LLP Invests $1.53 Million in F&G Annuities & Life, Inc. $FG

Key Points

• Wellington Management Group LLP made a new investment in F&G Annuities & Life, acquiring 42,351 shares valued at approximately $1.53 million.
• Wall Street analysts have recently upgraded the company's rating, with Barclays raising the target price from $37.00 to $40.00, reflecting confidence in its growth potential.
• F&G Annuities & Life declared a quarterly dividend of $0.22 per share, representing an annual yield of 2.5%.

Wellington Management Group LLP acquired a new position in shares of F&G Annuities & Life, Inc. (NYSE:FG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 42,351 shares of the company's stock, valued at approximately $1,527,000.

Other hedge funds have also modified their holdings of the company. Fidelity National Financial Inc. grew its stake in F&G Annuities & Life by 4.2% during the 1st quarter. Fidelity National Financial Inc. now owns 110,942,551 shares of the company's stock worth $3,999,479,000 after purchasing an additional 4,500,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of F&G Annuities & Life by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 2,029,913 shares of the company's stock valued at $73,178,000 after buying an additional 165,489 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in shares of F&G Annuities & Life during the fourth quarter worth about $72,007,000. Dimensional Fund Advisors LP grew its position in shares of F&G Annuities & Life by 11.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 413,202 shares of the company's stock worth $17,123,000 after buying an additional 42,081 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of F&G Annuities & Life by 26.6% during the first quarter. American Century Companies Inc. now owns 296,101 shares of the company's stock worth $10,674,000 after buying an additional 62,201 shares during the period. 95.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on FG. Wall Street Zen upgraded shares of F&G Annuities & Life from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Barclays raised their price target on F&G Annuities & Life from $37.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Finally, Zacks Research upgraded F&G Annuities & Life from a "strong sell" rating to a "hold" rating in a report on Monday. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $44.33.

F&G Annuities & Life Stock Performance

Shares of F&G Annuities & Life stock traded up $0.28 during trading on Thursday, reaching $35.27. The company's stock had a trading volume of 28,920 shares, compared to its average volume of 223,018. The company has a 50-day moving average price of $32.82 and a two-hundred day moving average price of $34.64. F&G Annuities & Life, Inc. has a fifty-two week low of $30.01 and a fifty-two week high of $50.75. The firm has a market cap of $4.75 billion, a PE ratio of 14.22 and a beta of 1.55. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.49.

F&G Annuities & Life (NYSE:FG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. F&G Annuities & Life had a net margin of 6.45% and a return on equity of 11.51%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $1.35 billion. On average, analysts forecast that F&G Annuities & Life, Inc. will post 5.54 EPS for the current year.

F&G Annuities & Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 16th. F&G Annuities & Life's dividend payout ratio (DPR) is presently 35.48%.

F&G Annuities & Life Company Profile

F&G Annuities & Life, Inc engages in the provision of fixed annuity and life insurance products. It specializes in life insurance, annuities, retirement planning and wealth transfer. The company was founded in 1959 and is headquartered in Des Moines, IA.